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Home Spotlight

NGX closes negative with market cap down N571 billion

The stock market has advanced by 1,601.71 basis points since the start of the year

Zainab Iwayemi by Zainab Iwayemi
October 19, 2022
in Spotlight, Stock Market
NGX closes negative with market cap down N571 billion
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The Nigerian Bourse (NGX) closed negative amidst buy-interests and sell-offs as bears dominated proceedings, weighing down the broad market by 231 basis points. 

The All-share Index (ASI) depreciated by 2.31% to close at 44,318.15 points.  

In the same vein, market capitalization declined by N571 billion to close at N24.14 trillion, while the Year-to-Date (YtD) returns settled at 3.75%. The stock market has advanced by 1,601.71 basis points since the start of the year.   

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The SWOOTs capitalization also closed negative at the end of the trading session. 

Market breadth closed negative as FIDELITYBK led 12 gainers, even as 24 Losers were topped by AIRTELAFRI.

 

On a sectoral level, 2 of the 5 major indices of the Nigerian Exchange closed negative with NGX Oil & Gas and Consumer Goods indices down by 0.80% and 0.03% respectively, while NGX Banking, Insurance, and Industrial indexes grew by 0.50%, 0.24%, and 0.94% respectively.  

Market Indices  

  • NGX ASI: 44,318.15 points  
  • Previous ASI: 45,366.32 points  
  • % Day Change: 2.31%  
  • % Y-t-D: 3.75% 
  • Market Cap (N): 24.189 trillion  
  • Volume: 165,352,168 
  • Value (N): 2.65 billion  
  • Deals: 3,183 

NGX Top ASI gainers    

  • FIDELITYBK up +9.74% to close at N3.83 
  • JAIZBANK up +7.06% to close at N0.91 
  • MBENEFIT up + 6.90% to close at N0.31 
  • OANDO up +5.56% to close at N0.57 
  • CAVERTON up +4.55% to close at N4.60 

NGX Top ASI losers   

  • AIRTELAFRI down – 10.00% to close at N1,312.20 
  • MRS down – 9.76 % to close at N12.95 
  • IKEJAHOTEL down – 9.68% to close at N1.12 
  • NNFM down – 9.56% to close at N6.15 
  • LINKASSURE down – 8.51% to close at N0.43 

Top 3 by Volume   

  • FBNH – 48,094,271 
  • GTCO – 18,545,739 
  • STERLNBANK – 8,282,785 

Top 3 by Value  

  • AIRTELAFRI – N1,152,896,295.60 
  • MTNN – N711,997,639.50 
  • FBNH – N461,772,863.15 

 


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Tags: MRS Oil Nigeria - NewsNGXstock marketThe Nigerian Exchange
Zainab Iwayemi

Zainab Iwayemi

For further inquiries about this article, contact: Email: zainab.iwayemi@nairametrics.com Twitter: @IwayemiZainab LinkedIn: Zainab Iwayemi

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Comments 2

  1. Ariet lakanu says:
    October 20, 2022 at 5:28 am

    The downtrend is expected. Forget the uncoordinated.and ineffective leadership at the NGX. That is well known in the public space. The global economy as well as the national economy are in turmoil. Most of the companies are struggling to survive. Obviously banks are cheating to survive. Other factors are absent of quality equity listings which itself is caused by myriads of factors beyond the scope here, the rise in bond yields and savings interest rates, rising inflation, liquidity preference and flight to safety. Which NGX will give the investor at the going turmoil 4.2percent pa in price appreciation? The funds will return for the dividend session in Q 2023. Also, the yuletide is fast approaching including school fees in January. We have not seen the end of the decline. The ytd gain now stand at about N1.84 trillion. This will turn negative by next week at the goin rate for sure. Obviously the negatives will take us till year end. Analyst believe the market decline should be at about 10-15 percent by year end. We hope banks will commence implementation .of 4.55percent.as from September..The CBN is conniving with banks to cheat savers. Check the whole of the CBN website, the circular on the interest rate upward review had been.tajen.off and that statement is not being referenced any where. To even implement the 4 65percent will be a battle and CBN is not saying anything. The lending rate of most banks is in in excess of 30 percent on a fund they are being required to pay 4.65percent to the owners. Policy inconsistency is a malaise. Who will save depositors?

    Reply
  2. Airett Lakanu says:
    October 20, 2022 at 6:43 am

    The downtrend is expected. Forget the uncoordinated.and ineffective leadership at the NGX. That is well known in the public space. The global economy as well as the national economy are in turmoil. Most of the companies are struggling to survive. Obviously banks are cheating to survive. Other factors are absent of quality equity listings which itself is caused by myriads of factors beyond the scope here, the rise in bond yields and savings interest rates, rising inflation, liquidity preference and flight to safety. Which NGX will give the investor at the going turmoil 4.2percent pa in price appreciation? The funds will return for the dividend session in Q 2023. Also, the yuletide is fast approaching including school fees in January. We have not seen the end of the decline. The ytd gain now stand at about N1.84 trillion. This will turn negative by next week at the goin rate for sure. Obviously the negatives will take us till year end. Analyst believe the market decline should be at about 10-15 percent by year end. We hope banks will commence implementation .of 4.55percent.as from September..The CBN is conniving with banks to cheat savers. Check the whole of the CBN website, the circular on the interest rate upward review had been.tajen.off and that statement is not being referenced any where. To even implement the 4 65percent will be a battle and CBN is not saying anything. The lending rate of most banks is in in excess of 30 percent on a fund they are being required to pay 4.65percent to the owners. Policy inconsistency is a malaise. Who will save depositors?

    Reply

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